Abaxx Commodity Futures Exchange and Clearinghouse has partnered with ION in order to use its XTP technology to support building new markets for the ongoing energy transition. The Abaxx Exchange, which began trading in Singapore on 28 June, offers post-trade clearing and risk solutions. The new exchange features five centrally cleared, physically deliverable commodity benchmark futures contracts. These aim to help market participants execute their energy transition strategies. Dan McElduff, Abaxx Exchange president, strategy and development, says, “With ION’s XTP technology and our physically deliverable commodity futures contracts, market participants can benefit from enhanced price discovery and risk management tools.” Francesco Margini, chief product officer for cleared derivatives at ION Markets, adds: “Deploying XTP technology to the LNG and Carbon markets provides robust and trusted post-trade solutions with real-time capabilities that allow clients to manage their risk effectively.”
